Independent Lubricant Manufacturers Generate $15.2 Billion in Economic Activity Across North America
Independent lubricant manufacturers continue to punch well above their weight in the North American economy, according to a new economic impact analysis conducted by S&P Global for ILMA. The report provides updated data and a comparison to ILMA’s 2018 economic impact study.
According to the 2025 analysis, ILMA member companies and other independents generated $15.2 billion in total sales activity across the United States, Canada and Mexico in 2024, contributing $7.8 billion to regional GDP and supporting over 25,000 jobs.
“These findings quantify what we see every day—our members’ innovation, technical expertise and customer commitment have a real and measurable impact on North America’s economy,” said ILMA CEO Holly Alfano. “Independent lubricant manufacturers don’t just make products. We create high-value jobs, sustain local businesses, and power the industries that keep our nations moving.”
Growth in a Contracting Market
The S&P Global study covers the period 2018 through 2024, during which total lubricant demand in North America declined by 11.3%, from 9.3 million to 8.25 million metric tons. Despite that overall contraction, independents’ volumes grew 3.7%, increasing their share of the market from 27% to nearly 32%.
That performance reflects the sector’s adaptability, strong customer relationships, and ability to deliver specialized solutions in areas like metalworking fluids, industrial oils and transport lubricants—all critical to manufacturing and logistics.
“This study reinforces that independent lubricant manufacturers are not just surviving—we’re thriving, innovating, and leading,” said Alfano. “ILMA members will remain essential partners in North America’s industrial future.”
Driving High-Wage, High-Value Jobs
The study found that independent lubricant manufacturers supported more than 25,000 jobs that paid $2.6 billion in wages, significantly outpacing average wages in all three countries. At $104,000 per year, that’s 37% higher than the U.S. average.
These positions span laboratory research, blending and packaging, logistics, customer service, and engineering, demonstrating the sector’s broad economic footprint.
Positioned for the Future
“This analysis validates the enormous impact our members have on the broader economy,” said Alfano. “From family-owned businesses to mid-sized innovators, ILMA members are creating value far beyond their size.”
As the lubricant industry adapts to shifts in mobility, energy and manufacturing, ILMA and its members remain focused on sustaining growth, fostering innovation and strengthening the supply chains that keep North America’s economy moving.